Shares in PHSC (AIM:PHSC) fell 14% on Friday after the health and safety consultancy swung to a full-year loss and scrapped its dividend, with the stock is now down 41% since January.
For the year to 31 March, revenue dropped 15% to £3.22 million, with EBITDA falling to £44,000 from £510,000.
The group reported a £126,000 post-tax loss, compared with a £249,000 profit last year. No dividend was paid, versus a 2p payout in 2024.
Acting CEO Nicola Coote said results were “unsatisfactory” but highlighted a 5% second-half sales improvement and early signs of progress from restructuring efforts.
The company is investing in AI tools and new products, including forensic security tags and high-definition cameras.
A strategic review is underway across PHSC’s three divisions. Chair Lorraine Young said the board is focused on repositioning the business for long-term growth after a period of leadership change and weak market conditions.
The shares fell 8.5p to 12p.